2merkato

The National Bank of Ethiopia (NBE) said that official receipt of remittance to Ethiopia grew to 1.5 billion dollars in the fiscal year to 8 July 2011, registering an 88 percent increase over its value in the previous year.

In spite of discrepancies for years between World Bank's estimates and that of NBE, the National Bank of Ethiopia for the first time confirmed the receipt of 1.5 billion dollars.

According the central bank's record, 789.5 million dollar was collected from Ethiopian citizens and foreigners based in Ethiopia over the last fiscal year in the form of private transfer.

Repi land-fill power project in Addis Ababa that would generate 50MW of electricity is to begin power generation in the coming seven months, according to Cambridge Industries, UK-based leading waste management firm.

United Nations Conference on Trade and Development’s (UNCTAD) World Investment Report, which was released on Wednesday, June 24, 2014, has shown Foreign Direct Investment (FDI) which flowed to Ethiopia by the year 2013 has reached U.S $ 953 Million. The report is dubbed ‘Investing in the Sustainable Development Goals’.

Ethiopia has been named one of the top 10 African countries with “dynamic” performance in attracting foreign direct investment by a South Africa-based investment bank on Monday, August 3, 2015.

The Annual Trends and Outlook Report (ATOR) states majority of low income African countries will make a transition to middle income status by 2030.